re: #98 Baelzar

Jesus titty-fucking Christ.

Is there no corner of Capitalism safe from these bastards?

You can easily predict who they’ll attack; unpopular targets. Banks, Credit Card Companies, Big Oil, Big 3 automakers, cigarette companies….they’re all on the menu.

We are the wheat, and they hold the scythe.

As bbcrackmonkey points out above, the CC companies brought this upon themselves by being assholes. This legislation has been meandering through Congress for several years now, blocked time and again by the banking lobby. It is long overdue, in my opinion.

The bill itself, however, is a joke. It give CC companies 9 months to continue plundering their customers and roping in new victims that will be grandfathered in before the bill’s protections kick in. It doesn’t address simple scams that the CC companies pull, like the statement release and delivery cycle and the posting of payments that leaves these items “lost” somewhere for more than a week each, even though the mail itself gets delivered in a couple of days, and the problem could be easily addressed by forcing the companies to use postmarks instead of arbitrary calendar dates to determine timleyness of payments. It also lets bad borrowers skate while penalizing good borrowers for their behavior.

But CC companies have been way, way over the line of reasonable behavior for years. They had it coming. Had it been left up to me, they would be smarting from even more pain.